Years ago, we had a 15-month fling with a promising fund. It traded at a generous discount to its net asset value (NAV) and paid a double-digit dividend. Plus, its price was rallying! Brookfield Real Assets Income Fund (RA) checked all the boxes. Unfortunately, it failed the all-important “cash-flow smell test.” RA’s NAV was declining . Not a good sign given the nebulous nature of its holdings. The “realness” of RA ends with its name. More than half the portfolio is securitized real estate credit. And actual infrastructure ? The “real assets” headline buyers think they are investing in? Just 30%!… Read more